Classic investing error? This billionaire has put half his wealth into gold

Concentrating in a single asset class can be an invitation to trouble

I try to avoid giving unsolicited advice to billionaires. They are doing just fine without me. Besides, nobody likes to hear from the cheap seats, especially when they just made a terrible, horrible, reckless investing error that poses an unnecessary risk and could cost quite literally billions of dollars.

I bring this up after I read the headline “This Billionaire Has Put Half His Net Worth Into Gold” on Bloomberg News, and the story that went with it. It describes a very concentrated investing bet: 

Some big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib